Simplify Asset Management Inc. Purchases 11,800 Shares of Exact Sciences Co. (NASDAQ:EXAS)

Simplify Asset Management Inc. grew its stake in Exact Sciences Co. (NASDAQ:EXAS - Free Report) by 67.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 29,277 shares of the medical research company's stock after acquiring an additional 11,800 shares during the period. Simplify Asset Management Inc.'s holdings in Exact Sciences were worth $1,994,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Exact Sciences by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,196 shares of the medical research company's stock valued at $6,160,000 after purchasing an additional 12,349 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of Exact Sciences by 1,153.2% in the third quarter. WCM Investment Management LLC now owns 187,807 shares of the medical research company's stock valued at $12,388,000 after purchasing an additional 172,821 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Exact Sciences by 5.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 207,364 shares of the medical research company's stock worth $14,361,000 after acquiring an additional 10,356 shares in the last quarter. Profund Advisors LLC grew its holdings in Exact Sciences by 239.8% during the 2nd quarter. Profund Advisors LLC now owns 78,589 shares of the medical research company's stock worth $3,320,000 after acquiring an additional 55,459 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Exact Sciences during the 2nd quarter worth approximately $163,896,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Exact Sciences Trading Down 3.1 %

Shares of EXAS stock traded down $1.60 during trading hours on Friday, hitting $49.33. 2,492,735 shares of the company were exchanged, compared to its average volume of 2,647,834. Exact Sciences Co. has a 1 year low of $40.62 and a 1 year high of $79.62. The company has a quick ratio of 1.93, a current ratio of 2.12 and a debt-to-equity ratio of 0.72. The firm has a market cap of $9.13 billion, a PE ratio of -42.16 and a beta of 1.27. The firm has a fifty day moving average of $65.83 and a 200 day moving average of $56.20.

Exact Sciences (NASDAQ:EXAS - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The medical research company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Exact Sciences had a negative return on equity of 6.17% and a negative net margin of 7.95%. The business had revenue of $708.66 million during the quarter, compared to analyst estimates of $716.80 million. The firm's revenue was up 12.8% compared to the same quarter last year. Analysts expect that Exact Sciences Co. will post -1.08 earnings per share for the current year.

Insider Activity

In other Exact Sciences news, EVP Brian Baranick sold 929 shares of the business's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $70.00, for a total value of $65,030.00. Following the sale, the executive vice president now directly owns 13,687 shares in the company, valued at approximately $958,090. The trade was a 6.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin T. Conroy purchased 19,500 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average cost of $51.35 per share, for a total transaction of $1,001,325.00. Following the purchase, the chief executive officer now directly owns 1,074,191 shares in the company, valued at $55,159,707.85. This represents a 1.85 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.36% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on EXAS shares. Canaccord Genuity Group lowered their price target on shares of Exact Sciences from $95.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Citigroup lowered their target price on shares of Exact Sciences from $80.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group lowered their target price on shares of Exact Sciences from $75.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. BTIG Research lowered their target price on shares of Exact Sciences from $82.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Raymond James restated a "market perform" rating on shares of Exact Sciences in a report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Exact Sciences has a consensus rating of "Moderate Buy" and a consensus price target of $74.47.

About Exact Sciences

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.